Billionaire warlords: Why the future is medieval | #2 of Top 10 2019

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Big Think's second most popular video of 2019 asks: Russia? China? No. The rising world superpower is the billionaire class. Our problem, says Sean McFate, is that we're still thinking in nation states.

Nation states have only existed for the last 300-400 years. Before that, wealthy groups – tribes, empires, aristocracies, etc – employed mercenaries to wage private wars.

As wealth inequality reaches combustion point, we could land back in the status quo ante of the Middle Ages. Who will our overlords be? Any or all of the 26 ultra-rich billionaires who own as much as the world's 3.8 billion poorest. What about Fortune 500, which is more powerful than most of the states in the world? Random billionaires, multinational corporations, and the extractive industry may buy armies and wage war on their own terms.
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SEAN MCFATE

Dr. Sean McFate is an adviser to Oxford University's Centre for Technology and Global Affairs, as well as a professor of strategy at the National Defense University and Georgetown University’s School of Foreign Service in Washington, DC. Additionally, he is the author of several books, including Shadow War, The New Rules of War, and The Modern Mercenary.
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TRANSCRIPT:

SEAN MCFATE: The United States, especially, has been now accustomed, for 25 years, as being the universal and unitary superpower. That's not going to last forever. I think most people know this, even though some may be in cognitive dissonance over this. The truth is there are rising powers like Russia and China, but there are other rising powers too. One of our problems is that we live in a state-centric view of the universe. International relations, for most of us, is run by states. Nation states are the global, political unit of the international order. And this is what we learn in social studies as kids. But that is actually not the way the world has worked for most of human history. States are actually about 300 or 400 years old. Before there were states, there were empires, and there were tribes, and everything else. The reign of states and only states can wage war legitimately that is coming to a close. We're actually going back to the status quo ante of when global order was a free-for-all of like the Middle Ages of antiquity, to what came before. And one of the things of that free-for-all is that: Who else were superpowers? It wasn't just states. So in the Middle Ages, the papacy was a superpower. Rich aristocracies were superpowers. Are we going back this world again?

So you know we have random billionaires today who have as much power as states. There are 62 people in the planet who own the equivalent of half the world's wealth. 62 people. You can put them all onto a bus. You have multinational corporations. We have the Fortune 500, which are more powerful than most of the states in the world. Of the 190, 194 states in the world, most are fragile or failed. We only think the top 25 states, like the US, Western Europe, Eastern Asia, et cetera. But that's an anomaly. The vast majority of states in the world are more either regimes hiding inside states or just outright dumpster fires. So what we're going to see in the future is those who have wealth and political power, who can also hire their own private armies now, become super powers. The world used to wage a lot of private war in military history. In fact, most of military history is privatized. Mercenaries have always been a major component of war. And what happens when you privatize war is that now military strategies blend with business ones. And this puts us at risk because our four stars who are in charge of our military and our policymakers are not prepared for that type of warfare... Read the full transcript here: bigthink.com/.